Stock Market Weekly Update, September 15, 2009
The Week Ahead: The stock markets 6 month rebound has helped push consumer sentiment to a 3 month high. Tuesday is a key day for economic stats as business inventories, retail sales, and the Producer Price Index will be released. The August Consumer Price Index as well as Industrial Production numbers are on the calendar for Wednesday. Weekly jobless claims and housing starts are slated for Thursday.
Stocks to Watch: Cliffs Natural Resources (CLF) lifted there 2009 North American coal and iron ore sales projections as the stock challenges its earlier May and June highs. Encana Corp. (ECA) Board of Directors approved a reorganization into 2 highly focused energy firms of natural gas and integrated oil. The stock reached levels not seen since last October. Crane Company (CR) reached new highs for 2009 and was upgraded by Barclays.
Special Note: A review of the major indexes march toward there 4 and 3.3 year converging cycle lows due in 2010 discussed here in January indicates the market forming the peak that would precede a move to new lows within a year. In addition to the other stats and indicators mentioned here in previous weeks, evidence continues to mount to support this view with the Daily Sentiment Index of S&P traders now at 90% bulls and a badly lagging Dow Utilities Index and banking index (KRE).
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
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Stocks to Watch: Cliffs Natural Resources (CLF) lifted there 2009 North American coal and iron ore sales projections as the stock challenges its earlier May and June highs. Encana Corp. (ECA) Board of Directors approved a reorganization into 2 highly focused energy firms of natural gas and integrated oil. The stock reached levels not seen since last October. Crane Company (CR) reached new highs for 2009 and was upgraded by Barclays.
Special Note: A review of the major indexes march toward there 4 and 3.3 year converging cycle lows due in 2010 discussed here in January indicates the market forming the peak that would precede a move to new lows within a year. In addition to the other stats and indicators mentioned here in previous weeks, evidence continues to mount to support this view with the Daily Sentiment Index of S&P traders now at 90% bulls and a badly lagging Dow Utilities Index and banking index (KRE).
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
Click Here To Open An Account.
NobleTrading Direct Access Trading
NobleTrading.com Offers Online Stock Trading, Online Options Trading
Online Futures Trading, Online Forex Trading
Worldwide Brokerage Service, Day Trading Brokerage
posted by NobleTrading at
11:54 AM
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